China to provide $100 million to Pakistan for repair of National Highway-5
The Minister for Economic Affairs lauded the grant assistance extended by Government of China.
ISLAMABAD (Dunya News) - China and Pakistan on Thursday signed an agreement worth $100 million grant assistance for repair of National Highway (N-5) to improve road infrastructure and expand the North-South connectivity.
Under this agreement, Government of China will provide grant assistance of RMB 659.8 million (US $100 million) for repair of four sections (66 kilometres in total)) of National Highway (N-5) between Hala (Matiari district) and Moro district Naushahro Feroze) in Sindh province, said a press release issued by Ministry of Economic Affairs here on Thursday.
Ambassador of the People’s Republic of China to Pakistan Nong Rong called on Minister for Economic Affairs Makhdum Khusro Bakhtyar at his office. During the meeting, a Letter of Exchange (LoE) for “Rehabilitation of Specific Sections of National Highway N-5 Project” was also signed.
During the meeting, Pak-China economic relations, China Pakistan Economic Corridor (CPEC) projects and other matters of mutual interest were discussed.
The Minister for Economic Affairs lauded the grant assistance extended by Government of China for various infrastructure and socioeconomic projects in Pakistan.
The minister also appreciated the significant work of Joint Working Groups on socioeconomic development and transport infrastructure under CPEC.
He highlighted that the socioeconomic projects agreed therein were in line with the vision of PTI government for socioeconomic uplift of the common people and enhanced economic activities in the country.
The minister also appreciated the Chinese assistance for combating corona pandemic and locust attack.
Both sides also discussed the progress of ongoing projects financed by the Government of China.
